Want to borrow some crypto assets? Don't worry, it is no more a hurdle when you have a Guarda wallet by your side. Yes, that is true in this case. With this wallet, you can very easily take a crypto loan and earn yourself massive benefits. However, there are some users who are not aware of what a crypto loan or "borrow" mean in the context of crypto-assets.
Hence, we have created this specific post for you which would help you step ahead in this field. Here, we will not only talk about the benefits involved but we will also have a look at the complete procedure to get the task done. So, here we go.
Benefits of borrowing through Guarda wallet
If you have made up your mind regarding taking this crypto loan, then you would want to know the perks and benefits associated with it. Here is the list of the same:
- If you apply for the crypto loan and get approved of it, then you are eligible to get your collateral back as and when needed
- In case you wish to exceed the time limit of the loan for more than 30 days, then there is no such need to pay additional fees
- Referring to the annual fees, it is charged on the initial days of each month which means you do not have to pay a huge one-time annual fee
- Through Guarda wallet you can borrow as much crypto as you want irrespective of the recurring time limit
Steps to take a crypto loan through Guarda wallet
Whether you are using Guarda wallet through your browser or through its mobile application, you can follow the further steps on both:
- Open the wallet software and then sign into it
- After signing in, navigate to the "Borrow" tab
- Now, you need to calculate your loan amount using the given collateral options
- The same tab would also show you the loan terms, annual interest rate, fees, etc.
- Followed by this, you need to enter the payout address
- Along with that, enter the collateral amount and confirm your transaction
- The final screen would show up now from where you can enable SMS notifications
- Now, wait for the collateral to get sent and confirmed
- As soon as that is done, you will be able to see the loan amount at the payout address
- And, you can check the incoming or outgoing transactions in the "History" tab
To sum up this blog post, it would not be wrong to say that Guarda wallet could be your one-stop destination for borrowing crypto assets. As you can see, taking a crypto loan through this wallet is pretty easy, so what are you waiting for? Create a new Guarda wallet for yourself and enjoy different crypto-related benefits.